Eco City Vehicles has begun a search for a new chief executive following a successful share placing.
The publicly-listed company, which builds the low emissions Mercedes-Benz Vito Taxi, has proposed changes to its board in preparation for its next phase of development.
Once a new chief executive has been confirmed current CEO Peter DaCosta will become a non-executive director, while Tim Yeo, who has chaired the company since its 2007 admission to AIM, is stepping down, to be replaced by John Swingewood.
It comes after ECV raised £1.75m in a share placement, which will help to reduce debt and provide working capital.
The Vito Taxi has increased its share of the new London license taxi market to 36% this year.
An award-winning journalist and editor, with two decades of experience covering the motor retail industry, and accredited by the Institute of Leadership and Management (ILM) plus the National Council for the Training of Journalist (NCTJ)
As editor of AM since 2016, Tim is responsible for its media content, planning and production across AM's multiple channels, including the website, digital reports, webinars, social media and the editorial content of AM's events, Automotive Management Live and the AM Awards. His focus is on interviewing senior leaders of franchised dealer groups and motor manufacturer national sales companies to examine latest developments in UK motor retail.
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